TSX Today: What to Watch for in Stocks on Friday, February 6

Canadian stocks plunged sharply on Thursday as retreating commodity prices and crypto market selloff weighed on investor sentiment, as Bank of Canada (BoC) governor Tiff Macklem suggested that Canada is entering a period of big structural change, marked by U.S. protectionism, slower population growth, and the rapid rise of artificial intelligence (AI). After steadily rising for three consecutive sessions, the S&P/TSX Composite Index dived by 577 points, or 1.8%, for the session to settle at 31,995 — erasing most of its week-to-date gains.

Even as some utility stocks saw buying, most other key market sectors, including mining, energy, and industrials, posted sharp declines, pressuring the TSX benchmark.

Speaking in Toronto on Thursday, Macklem said U.S. trade restrictions have sharply reduced exports and raised costs for Canadian businesses, while slower population growth is weighing on the economy’s long-term potential. Macklem also stressed that monetary policy has limits and cannot reverse the longer-term impacts of trade friction or demographic shifts.

Top TSX Composite movers and active stocks

Bitfarms, Vizsla Silver, Torex Gold, Endeavour Silver, and Discovery Silver were the worst-performing TSX stocks for the day, with each diving by more than 11%.

On the flip side, Celestica and Superior Plus climbed by 3.4% each, making them the day’s top-performing TSX stocks.

Shares of Kinaxis (TSX:KXS) also climbed by 2.7% to $123.31 apiece, making it among the day’s top gainers on the Toronto Stock Exchange. This rise in KXS stock came after the Ottawa-based tech firm unveiled Maestro Agent Studio, a new no-code AI capability within its Maestro platform that allows customers to build composable AI agents for real-time supply chain decision-making.

Kinaxis said the tool works with leading large language models while remaining anchored to its trusted data, workflows, and governance. Investors appeared encouraged by the move, viewing it as a meaningful step in Kinaxis’s broader AI strategy and a potential driver of its long-term growth. Despite the recent optimism, however, KXS stock is still down nearly 29% year to date.

Based on their daily trade volume, Enbridge, BCE, Bitfarms, Bank of Nova Scotia, and Telus were the five most active stocks on the exchange.

TSX today

After falling sharply in the last session, gold and silver prices bounced back in early morning trading on Friday, but crude oil and copper prices went sideways. These mixed commodity market signals could keep TSX investors cautious at the open today as they assess whether Thursday’s selloff was an overreaction or part of a broader pullback.

While no major economic releases from the U.S. are due, Canadian investors may want to keep an eye on the monthly domestic jobs data this morning for fresh insights into the health of the labour market and potential implications for monetary policy.

Market movers on the TSX today

• {tab.name}  {data.noDataMsg}{ 'Symbol' | i8ln tLang }{ 'Company' | i8ln tLang }{ 'Last' | i8ln tLang }{ 'change' | i8ln tLang }{ 'changepct' | i8ln tLang }{ 'Open' | i8ln tLang }{ 'High' | i8ln tLang }{ 'Low' | i8ln tLang }{ '52weekrange' | i8ln tLang }{ 'Vol' | i8ln tLang }{'volume change %' | i8ln tLang}{ 'tradeval' | i8ln tLang }{ 'totaltrades' | i8ln tLang }TSX:{tradee.symbolstring | str_replace ':CA' '' }{tradee.equityinfo.longname}  {tradee.entitlement}{tradee.pricedata.last | asQHLast}{tradee.premarket.last | asQHLast}{tradee.pricedata.change | asQHLast}{tradee.premarket.change | asQHLast}{tradee.pricedata.open | asQHLast}{tradee.pricedata.high | asQHLast}{tradee.pricedata.low | asQHLast}{tradee.fundamental.week52low.content | asQHLast} - {tradee.fundamental.week52high.content | asQHLast}-{tradee.pricedata.sharevolume | numeraljs '0,0.[00]a'}{tradee.premarket.sharevolume | numeraljs '0,0.[00]a'}{tradee.pricedata.volumechangepercent | numeraljs '0,0.[00]a' '0'}{tradee.pricedata.totalvalue | numeraljs '0,0.[00]a'}{tradee.pricedata.tradevolume | numeraljs '0,0.[00]a'}More {data.data.0.timezone | asTimezone tLang}{data.popup.data.title} .qtool{} .qmf-link { white-space: nowrap; } .qmf-logo { padding-top: 5px; } .qmf-rt, .qmf-non-rt { font-style: italic; font-weight: bold; } .qmf-non-rt { color: #333; } .qmf-rt { color: #080; } .qmod-table tbody .qmod-col-symbol, .qmod-table tbody .qmod-col-name { color: #0b73be; text-decoration: underline; cursor: pointer; } .qmod-table tbody .linker-active .qmod-col-symbol, .qmod-table tbody .linker-active .qmod-col-name, .qmod-table tbody .qmod-col-symbol:hover, .qmod-table tbody .qmod-col-name:hover { color: #485cc7; } .qmod-table tbody .linker-active .qmod-col-name { background: transparent url(/wp-content/plugins/fool-wp-tickers/lib/qm-loading-spinner.svg) 98% center no-repeat; } .qmod-volume-leaders .qmod-block-wrapper { margin: 0; } .qmod-volume-leaders .qmod-block-wrapper .qmod-panel { padding: 0; } .qmod-volume-leaders table thead th.sorting::after, .qmod-volume-leaders table thead th.sorting_asc::after, .qmod-volume-leaders table thead th.sorting_desc::after, .qmod-minimarketmovers table thead th.sorting::after, .qmod-minimarketmovers table thead th.sorting_asc::after, .qmod-minimarketmovers table thead th.sorting_desc::after { right: 6px; color: #6a6a6a !important; } .qmod-volume-leaders > .qmod-heading, .qmod-volume-leaders .qmod-table-con > .qmod-tcell, .qmod-volume-leaders-table-title { display: none; } .qtool{} Financial Market Data copyright © 2026 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.

  The post TSX Today: What to Watch for in Stocks on Friday, February 6 appeared first on The Motley Fool Canada.

  Should you invest $1,000 in Kinaxis Inc. right now?

  Before you buy stock in Kinaxis Inc., consider this:

  The Motley Fool Canada team has identified what they believe are the top 10 TSX stocks for 2026… and Kinaxis Inc. wasn’t one of them. The 10 stocks that made the cut could potentially produce monster returns in the coming years.

  Consider MercadoLibre, which we first recommended on January 8, 2014 … if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $21,827.88!*

  Now, it’s worth noting Stock Advisor Canada’s total average return is 102%* – a market-crushing outperformance compared to 81%* for the S&P/TSX Composite Index. Don’t miss out on our top 10 stocks, available when you join our mailing list!

  Get the 10 stocks instantly #start_btn6 { background: #0e6d04 none repeat scroll 0 0; color: #fff; font-size: 1.2em; font-family: 'Montserrat', sans-serif; font-weight: 600; height: auto; line-height: 1.2em; margin: 30px 0; max-width: 350px; text-align: center; width: auto; box-shadow: 0 1px 0 rgba(0, 0, 0, 0.5), 0 1px 0 #fff inset, 0 0 2px rgba(0, 0, 0, 0.2); border-radius: 5px; } #start_btn6 a { color: #fff; display: block; padding: 20px; padding-right:1em; padding-left:1em; } #start_btn6 a:hover { background: #FFE300 none repeat scroll 0 0; color: #000; } @media (max-width: 480px) { div#start_btn6 { font-size:1.1em; max-width: 320px;} } margin_bottom_5 { margin-bottom:5px; } margin_top_10 { margin-top:10px; }

  * Returns as of January 15th, 2026

  More reading

  • 3 Canadian Stocks That Could Create Lasting Generational Wealth
  • TFSA: 3 Canadian Stocks That Are Perfection With a $10,000 TFSA Investment
  • 5 Top Canadian Stocks to Pick up Now in January
  • 2 Top Canadian AI Stocks to Buy in January

  Fool contributor Jitendra Parashar has positions in Bce, Celestica, Enbridge, and Kinaxis. The Motley Fool recommends Bank Of Nova Scotia, Celestica, Enbridge, Kinaxis, Superior Plus, and TELUS. The Motley Fool has a disclosure policy.